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Oil Price
OPEC Daily Basket Price Stands at $14.36 a Barrel Wednesday
The price of OPEC basket of thirteen crudes stood at $14.36 a barrel on Wednesday, 29th April, 2020, compared with $12.41 the previous day, according to OPEC Se…
Oil & Gas Trade
Azerbaijan's SOCAR Says BP to Cut Oil Output by 76,000 Bpd in May-June
Azerbaijan’s state energy company SOCAR said on Thursday that BP, which leads a number of big energy projects in the former Soviet country, will cut its oil…
Oil Price
Australia's Woodside Sees Low Oil Prices into 2021
Australian independent Woodside Petroleum expects low oil prices to persist for the rest of 2020 and into next year.
Oil&Gas Drilling
Fenja, Neptune's First Operated Development Project on the Norwegian Shelf
On April 28, Neptune Energy announced the drilling campaign on the Fenja field is now underway.
Oil & Gas Trade
Belarus Buys First Oil from Saudi Arabia: Refiner Belneftekhim
Belarus, long dependent on Russian oil, has bought its first barrel of crude from Saudi Arabia.
Crude Oil
Oil Major Chevron Could Be Forced To Cut Oil Production In Kazakhstan
Kazakhstan is in talks with the companies operating its two sizeable offshore oil projects to reduce total output by 22 percent in compliance with the latest OP…
Crude Oil
Russia Calls For Market Share Target For OPEC+
It would make sense for the OPEC+ coalition of oil producers to begin monitoring the group’s market share to measure how effective the OPEC+ actions are.
Crude Oil
Russian Oil Production Set For First Annual Drop Since 2008
Due to the OPEC+ production cut deal, Russia’s oil production could decline by 15 percent annually in 2020, Russian Energy Minister Alexander Novak told news a…
Oil&Gas Drilling
Russia’s Grand Plan For Arctic Oil Is Under Threat
Russia's oil sector has been at the center of virtually all developments in its modern history. Imperial Russia already produced oil in the early days of the in…
Oil & Gas Trade
U.S. Oil Futures Plunge Nearly 25 Pct Amid Fears of Filled Storage
Oil prices fell significantly on Monday with the U.S. benchmark down nearly 25 percent amid fears over a growing scarcity of oil storage space.
Crude Oil
U.S. Oil Companies Begin Sending Crude To Strategic Petroleum Reserve
U.S. oil companies have started sending oil to the Strategic Petroleum Reserve, Bloomberg reports, citing a Department of Energy official.
Oil Price
Canada’s Oil Firms Set To Curtail Output By At Least 1 Million Bpd
Companies in Canada have already reacted to the oil price plunge, but analysts and investors will be looking for further clues in the earnings reports about how…
LNG
The LNG Market Is“Imploding”
The global market for natural gas is also cratering.
Hydrogen Fuel Cell Vehicle
China Develops its First Hydrogen Powered Tram for Passenger Transport
In a move to shrink greenhouse gas emissions, the country has developed and built the H2 vehicles.
Oil & Gas Trade
China Set to Issue First-Ever Export QQuotas for VLSFO of 10 mln T for 2020
China is set to release its first-ever quotas to export very low sulphur fuel oil with total volumes of 10 million tonnes for this year.
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